Porsche, Bosch, C&A… Many world-famous brands today grew out of family businesses, and have thrived for hundreds of years. They focused on a single industry and, through the efforts of dozens of generations, gradually grew from small workshops into global champions.
This book tells the little-known success stories of more than a dozen famous German business families, including the Dressler family in steel, the Thurn und Taxis family in postal services, the Merck family in pharmaceuticals, the Warburg family in banking, the Reclam family in publishing, the industrial giant August Thyssen family, the Bosch family in precision electromechanics, the arms magnate Krupp family, the Brenninkmeijer family in clothing, and the Würth family in the screw trade. These families created enormous personal and social wealth, and some even founded entire cities. The book also offers an overview of the development of German family businesses and a valuable historical timeline.
The book takes an in-depth look at how German family businesses used new technologies to improve production, spot business opportunities, raise capital, and expand, as well as the market shocks, political turmoil, property disputes, and succession challenges they faced. More importantly, it explores how they moved from traditional handicrafts into the industrial age, adapting their operations, management, investment, and innovation while remaining at the forefront of their times and retaining their vitality. Their experience and insights are well worth learning from for Chinese businesses.
Invincible 666